The coronavirus pandemic could reduce employer health-care costs by as much as four per cent in 2020 as medical care for non-infected patients has declined, according to a new analysis by Willis Towers Watson. The analysis of large, self-funded U.S.-based employers is an update to a similar study conducted in March that projected employer costs […]
Green Shield Canada is partnering with digital pharmacy PocketPills on a virtual pharmacy app for its group benefits plans. Plan members will be able to chat with a pharmacist, refill existing prescriptions through the app and have their medications delivered to their homes for free. The drugs come pre-sorted into packages by dosage and time, […]
With providers of dental and paramedical services closed, many aspects of the benefits plans are seeing reduced use. But drug plan spending is continuing unabated — and experts say new concerns are coming up during the crisis. Plan sponsors that have implemented 90-day supplies as a cost-control measure may have to see if their plan can be adapted during […]
Manulife Financial Corp. is lending a hand to group benefits plan sponsors in light of the tight financial situation many businesses are in due to the coronavirus pandemic. The insurer is providing certain premium relief for all group benefits plan sponsors with an insured non-refund accounted benefits plan with Manulife. For the month of May, dental […]
The Canada Life Assurance Co. is cutting its health insurance premiums for its employer-sponsored benefits plans to support small- and medium-sized businesses facing hardship as a result of the coronavirus pandemic. “We recognize that many businesses are challenged right now and we are wholeheartedly committed to supporting them however we can,” said Jeff Macoun, president and […]
Private drug plans saw a slight uptick in costs in 2019 due to the increased use of specialty drugs and higher price points for traditional medications, according to Express Scripts Canada’s annual drug trends report. The report found private drug plan spending per claimant increased one per cent over 2018’s figures. Plans’ annual spend per claimant on […]
Several weeks into the coronavirus pandemic, the U.S. has seen a 415 per cent increase in the percentage of employees working remotely or part time, according to a new survey by WorldatWork. The survey, which polled more than 1,500 total rewards and human resources professionals in the U.S., also found 37 per cent of organizations are providing […]
The mental-health repercussions of the coronavirus could see global sales of psychiatric drugs increase to more than US$40 billion by 2025, according to data and analytics company GlobalData. Global sales for drugs to treat mental-health disorders such as depression, anxiety and obsessive compulsive disorder are expected to reach US$27.4 billion in 2020, an increase of US$717 […]
As U.S. employers look to keep their workers safe and healthy in the face of the global pandemic, they could see their health-care benefits costs jump by as much as seven per cent this year as a result of coronavirus-related testing and treatment, according to an actuarial analysis of self-funded employers by Willis Towers Watson. […]
On March 3, the 2020 Employers Cancer Care Summit featured sessions on cancer-related issues and opportunities tied to benefits plans and the workplace. Many perspectives required when covering cancer drugs on benefits plans While treatment options for cancer are more than they used to be, many still aren’t covered under the public health-care system, according to Tim […]